Asian Development Bank (ADB) has greenlit three pivotal projects totaling $658.8 million for Pakistan. These initiatives are designed to support the country in achieving its aspirations for more inclusive and sustainable growth and development. The projects, highlighted in a statement released by the ADB, encompass improving domestic resource mobilization, rehabilitating schools affected by the devastating August 2022 floods, and boosting agricultural productivity to enhance food security.
ADB Director General for Central and West Asia, Yevgeniy Zhukov, emphasized the importance of this financing wave in aiding Pakistan’s recovery from the aftermath of the cost-of-living crisis and super-floods of the previous year. The funds aim to steer Pakistan back on the path of long-term development that is both sustainable and inclusive.
The first initiative, the Improved Resource Mobilization and Utilization Reform Program, involves a $300-million policy-based loan supporting the government’s vision for sustainable, broad-based, and inclusive economic growth. The focus is on reforming policies, laws, and institutional capacity to enhance domestic resource mobilization and utilization, including non-debt resources such as private investment and savings.
Additionally, the ongoing Sindh Secondary Education Improvement Project will receive a $275 million emergency assistance loan to reconstruct flood-damaged schools, fostering resilience and inclusivity in the education system. A $800,000 technical assistance grant will aid in planning and monitoring reconstruction, with a focus on gender-responsive designs.
Furthermore, the Khyber Pakhtunkhwa Food Security Support Project will benefit from an $80 million concessional loan, addressing climate vulnerabilities, enhancing food security, and supporting rural farm households in flood-damaged districts. The project includes training for smallholder farmers, digital access improvement, and market opportunities exploration.
In a separate initiative, a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific will support women farmers in activities related to seed cleaning and the safer handling of agrochemicals.
This follows the recent approval of a $180 million ADB loan to enhance water supply and solid waste management services in two rapidly growing cities in Punjab.
